Today, extreme wealth is growing exponentially while nearly 700 million people still live in extreme poverty
Around the world, in the wake of the COVID-19 pandemic and in the midst of a cost-of-living crisis, more people are going hungry and struggling with rising prices, while real wages are declining. People living in extreme poverty are being hit the hardest. Meanwhile, billionaire wealth is skyrocketing.
There are 16 more billionaires in Australia today than there were in 2020
Globally, billionaires are almost $5 trillion wealthier than in 2020, while global poverty has stagnated at pre-pandemic levels. In Australia, billionaire wealth has increased by 71% or $120 billion in that same period.
Sign the petition and join us in calling on the government to Make Tax Fair by:
Extreme inequality is no accident
Many billionaires and big corporations pay little or no tax in Australia, and receive cash handouts from the government, despite making gob-smacking profits year on year.
A nurse pays more tax than most of the biggest energy companies in Australia, most of whom paid zero company tax in 2020-2021, despite making billions in income
Over recent decades, big corporations and wealthy individuals have used their power and influence to
rig our economy in their favour and pay lower taxes than the rest of us.
As a result, wealth inequality has reached extreme levels. In the past decade, the richest 1% of Australians have accumulated 10 times more wealth than the bottom 50%. That’s more than $2,500 per second for 10 years straight.
Make billionaires and big corporations pay their fair share
In East Africa, as a result of conflict, rising food prices, and drought and flood caused by climate change, millions of people face hunger and are being forced from their homes. Nearly 700 million people live in extreme poverty across the world.
Meanwhile, billionaires are making massive profits during times of crisis, which many use to fund their lavish lifestyles – private jets, multiple mansions and super yachts, which are also fuelling climate destruction.
Such extreme inequality shows our economic system is failing humanity. But we can fix it. Billionaires and big corporations who have benefited from a rigged system must pay their fair share.
Tackle inequality. Let’s make tax fair
We all want to live in a society where everyone is able to keep a roof over their head, food on the table and to live with choice, dignity and equal opportunity. At Oxfam, we are striving for a fair and equal future without the inequalities that keep people in poverty.
To ensure there is enough money in our budget to pay for the services everyone needs and cherishes, the super-rich need to pay their fair share of taxes.
By increasing the Australian Government’s tax revenue, there will be more money available to fund better quality healthcare, education and action on climate change as part of a strong social safety net to alleviate poverty at home and abroad.
All lives are equal. Let’s fight for a society without the inequalities that keep people in poverty.MAKE TAX FAIR
Make corporations pay their fair share
Many big corporations are making super profits, often during times of crisis. Polluting fossil fuel-based industries receive huge subsidies from the government, while using loopholes to pay little or no tax. It’s time they gave back to the community.
Bill the billionaires. Fight inequality.
A wealth tax on Australia’s richest would generate $32 billion annually. This would help balance the scales on inequality and ensure there is money in the budget for essential services like health and education, and to eradicate poverty.
Make Rich Polluters Pay
Big energy corporations and billionaires are most responsible for the climate crisis. It’s time to tax rich polluters, end fossil fuel subsidies and use the funds to support communities already experiencing the destructive impacts of climate change.
Read our reports
The wealth of the three richest Australians, Gina Rinehart, Andrew Forrest and Harry Triguboff, has more than doubled since 2020 at a staggering rate of $1.5 million per hour, while 5 billion people find themselves poorer. These are some of the stark findings of Inequality Inc, an Oxfam flagship report launched ahead the 2024 annual meeting of the World Economic Forum.
Climate Equality: A Planet for the 99%
The richest 1% emit as much carbon pollution as two-thirds of humanity. This is just one of the shocking findings of Oxfam’s landmark ‘Climate Equality: A Planet for the 99%’ report released ahead of the annual United Nations international climate change conference COP28.
Survival of the Richest
Oxfam revealed that the richest 1% of Australians accumulated 10 times more wealth than the bottom 50% in the past decade, as cost-of-living pressures bite and global inequality spikes.
In the News
Oxfam response to changes to stage three tax cuts
In response to the Australian Government’s announcement on the stage three tax cuts, Oxfam Australia’s Interim Director of Programs, Rod Goodbun, said: “We welcome today’s announcement that the Australian government has taken positive measures to address the relentless surge in the cost of living and enhance the fairness of the stage three tax cuts. “The […]
Nearly three quarters of millionaires polled in G20 countries support higher taxes on wealth, over half think extreme wealth is a “threat to democracy”
Polling comes as 260 millionaires and billionaires sign new letter, directed at political leaders attending the World Economic Forum in Davos, saying they would be “Proud To Pay More” in taxes. A staggering new poll has revealed that support for higher taxes on wealth is popular with dollar millionaires from across G20 countries. It comes […]
Wealth of three richest Australians has doubled since 2020 as cost-of-living pressures for many continue to bite: Oxfam
Analysis finds that in the same period, five billion people around the world have been made poorer The wealth of the three richest Australians, Gina Rinehart, Andrew Forrest and Harry Triguboff, has more than doubled since 2020 at a staggering rate of $1.5 million per hour, new Oxfam analysis reveals, as the human rights organisation […]
Tackle inequality. Make tax fair.
Together, we can create a fair and equal future without the inequalities that keep people in poverty. Tell the Treasurer to bill the billionaires and big corporations. Make them pay their fair share.MAKE TAX FAIR